Balance Sheets For the years ended December 31 Year Increase (Decrease) Amount % 2021 $ $ 103,050 62,550 50,850 7,200 78,400 31,600 70,000 3,600 54,450 96,300 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity 102,150 (26,550) 450,000 134,400 101,200 (19,200) 400,000 $ $ $ 42,300 $ 7,200 12,150 51,600 3,600 8,000 117,900 114,000 144,000 126,450 450,000 144,000 78,800 400,000 $ $